ORLANDO - September 8,2008 - Liberty Property Trust (NYSE:LRY), the real estate investment trust that owns and manages more than seven million square feet of office and industrial space in Florida, today announced that it is breaking ground on a new office building in Maitland Summit Park. The stimulus for the new construction is a freshly inked lease with Metavante Corporation, a leading provider of banking and payments technology and the principal subsidiary of Metavante Technologies, Inc. (NYSE:MV).
"When we learned that Metavante was looking to relocate its Orlando Banking Solutions office, we were very pleased to be in a position to help them relocate and to accommodate their needs," said Stephen Whitley, senior vice president and city manager for Liberty Property Trust. "Our existing properties in Maitland Summit Park have proven very successful and we have been eager to build-out the remainder of the park with a partner such as Metavante."
Liberty will develop the Maitland Summit Park III building, a 220,000 square foot building which is designed to achieve LEED® Gold certification. Metavante will occupy 107,000 square feet for use by its banking solutions division. Metavante is relocating its Orlando-area operations from Semoran Boulevard where it started as Kirchman Corporation. Maitland Summit Park currently contains two buildings that are occupied by a blue chip list of tenants including EA Sports, Charles Schwab and ZOM. It is located directly across from the RDV Sportsplex and it boasts walking trails around lakes with fountain displays.
"We are very excited to occupy a brand new, first-class facility that can accommodate all our Orlando employees in one location with room to expand," said Rachel Landrum, president Metavante Banking Solutions — Bankway. "Metavante is committed to the care and preservation of our environment and this new facility is being constructed under the highest standards of the U.S. Green Building Council's LEED (Leadership in Energy and Environmental Design) guidelines for developing high performance, green buildings which benefit not only the environment but our employees as well."
Liberty is scheduled to officially break ground on the project later this month and completion is planned for November 2009. The seven story building is designed to meet LEED Gold standards that will provide several cutting edge benefits, including high performance glass, increased daylight through larger vision glass and taller floors and a heat wheel, all of which will reduce energy usage.
In addition, the building systems will monitor the indoor air quality to provide more fresh air for better working environments for every tenant. Other environmentally sensitive features include certified building with renewable woods, installing waterless urinals, low-flow shower heads and sensor faucets, use of a highly reflective white TPO roof membrane, as well as low emission paints, carpet and adhesives.
Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,000 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in Milwaukee.
Liberty and LEED/Sustainable Development
Liberty has been recognized for its commitment to sustainable design and its positive impact on its tenants' employees, the environment and its communities. Most recently, Liberty was named the National Association of Industrial and Office Properties (NAIOP) 2008 Developer of the Year. This award is presented annually to one member-developer company that best exemplifies leadership and innovation in the commercial real estate industry. Liberty is also the proud recipient of the CoreNet Global 2008 Sustainability Leadership Award for Design & Development and the 2007 NAIOP Green Development Award. The company was also honored with the U.S. Green Building Council's 2006 LEED Corporate Leadership Award, recognizing outstanding leaders in green building that demonstrate exceptional vision, leadership, and commitment to the evolution of green building design and construction. Liberty has invested more than $1 billion in sustainable developments.
About Liberty Property Trust
Liberty Property Trust (NYSE:LRY), headquartered in Malvern, PA, is dedicated to enhancing people's lives through extraordinary work environments. The real estate investment trust (REIT) serves customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 75 million square foot portfolio offers exceptional locations and flexible design to more than 2,100 tenants at 700 office, distribution and light manufacturing facilities. The company is a leader in the development of high performance green buildings.
For more information visit www.libertyproperty.com.
Contact: Stephen Whitley
Liberty Property Trust
Media:Margo Hunt Winans